Summary of Richard H. Thaler's Misbehaving

Summary of Richard H. Thaler's Misbehaving is an introduction to behavioral economics and an account of Richard H. Thaler's role in developing and popularizing the field. The traditional economic theory of the 1970s presumed that people made economic decisions rationally. In this economic vision, rational individuals-or Econs, as Thaler calls them-know what they want, and they know how much they value the things they want…